The Chairman of DAAR Communications Plc, Chief Raymond Paul Dokpesi Jnr., has dragged the Corporate Affairs Commission before the Federal High Court in Abuja over alleged unlawful alterations to the shareholding structure of DAAR Investment & Holding Company Limited, the parent company of DAAR Communications Plc.
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The suit raises questions over the integrity of CAC’s electronic records, following allegations that the share register of DAAR Investment & Holding Company Limited was altered on the Commission’s online portal without probate, valid transfer documents or the consent of affected shareholders.
According to court documents, the company’s shareholding structure, as contained in CAC Form 2A dated January 28, 2008, showed that the late founder of DAAR Communications, High Chief Raymond Aleogho Dokpesi, held 300,000 shares, representing 71.43 per cent of the company’s equity.
The remaining shares were held by Raymond Paul Dokpesi Jnr., Aishatu Dokpesi, Ade Orekoya and the late Engr. Adamu Biu.
However, the claimants alleged that an electronic report generated from the CAC portal in October 2025 reflected a significantly altered ownership structure, with the late founder’s shares allegedly redistributed among several family members despite the absence of probate or letters of administration.
They further alleged that the revised register included two inactive entries under the name “Oluwatosin Dokpesi,” a name they claimed had never appeared in DIHL’s corporate records.
The suit also alleged that by March 2026, the shares of William Dokpesi had been reduced by 83,333 units, while a new shareholder, Catherine Anuoluwapo Dokpesi, said to be a minor born in 2009, was allotted the same number of shares, with her email address listed as that of her mother.
The claimants maintained that no Letters of Administration or Probate had been issued in respect of the estate of the late High Chief Raymond Dokpesi as of April 2026, citing confirmations allegedly obtained from probate registries in the Federal Capital Territory, Edo State and Lagos State.
They argued that under the Companies and Allied Matters Act 2020, shares belonging to a deceased shareholder cannot be validly transferred without court-issued probate and valid transfer instruments.
According to the court filings, several family members whose names appeared on the revised register, including Raymond Paul Dokpesi Jnr., William Dokpesi, Raji Dokpesi and Halima Dokpesi, denied knowledge of the alleged share allotments.
The only reported explanation for the changes came from Engr. Peter Aiyeghena Dokpesi, who reportedly attributed the alterations to a company restructuring allegedly carried out in 2012.
The claimants, however, insisted that CAC’s physical records contain no evidence of any share transfer or restructuring affecting the disputed shares during that period.
The suit also questions the conduct of the Corporate Affairs Commission. The claimants alleged that the Commission acknowledged receipt of a petition on November 24, 2025, and requested 14 days to investigate the matter, but further changes were allegedly made to the online portal within that period without the records being frozen.
They further claimed that CAC has not produced IP logs, user identification records or documentary evidence explaining the alterations, and has not granted requests to inspect the company’s physical file.
As of June 16, 2026, the Commission had reportedly not filed a formal defence in court or issued a public statement on the allegations.
The dispute also extends to DIHL’s reported investment in DAAR Communications Plc. The claimants alleged that CAC’s portal reflected an increase of approximately 125.9 million shares in DIHL’s holdings in the publicly listed broadcaster.
They, however, said First Registrars, in a letter dated April 2026, confirmed that no such transfer had been recorded in its register.
The claimants argued that any discrepancy between CAC records and the official share register of a listed company could raise regulatory concerns, especially regarding disclosure obligations.
The Originating Summons, filed on April 27, 2026, seeks orders restoring DIHL’s share register to its 2008 position, compelling CAC to investigate the alleged alterations, and awarding ₦50 million in damages.
In addition to the court action, petitions have reportedly been submitted to the Securities and Exchange Commission, NGX Regulation, the Department of State Services and the Nigeria Police Force, requesting investigations into the matter.
The case is expected to determine whether the disputed entries arose from an unlawful alteration of CAC’s electronic records or from an internal family succession and ownership dispute.
The allegations contained in the suit remain unproven, and the issues are now before the court for determination.
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